IKEA to open retail stores in India

IKEA Group

Project Information

Organization Name

IKEA Group

Project Title

IKEA to open retail stores in India

Project Detail

Swedish retail major IKEA Group looking to open its stores in India. The company has identified four states - Haryana, Andhra Pradesh, Maharashtra and Karnataka, to set up single-brand retail stores as part of its Rs 10,500-crore investment in India. The government of India had on May 2 approved IKEA's Rs 10,500 crore proposal for setting up home furnishing stores in the country. The firm has incorporated its Indian subsidiary as IKEA India Ltd. The company would enhance its sourcing from India and would collaborate with handicraft and handloom sector and also collaborate with the National Institute of Design for its products. The firm had proposed setting up 10 furnishing and homeware stores as well as allied infrastructure in India over the next 10 years. In the second phase, the company plans to open 15 more stores. IKEA is a Swedish company registered in the Netherlands that designs and sells ready-to-assemble furniture, appliances, and home accessories